Home > Letters to CR

Michael Davidson on Stock Buybacks
posted May 12, 2005
 

Michael Davidson
Via the Internet

Don't know why Marvel is buying back its stock, but your guess is usually the given reason.

I can, however, shed a little light on the Alan Fine sale. He's not selling shares that he previously held, he's just exercising some options and immediately selling the resulting shares. Stock options are frequently given as part of executive compensation. His were very valuable, and he cashed out to the tune of $8,730,375 (minus commisions and taxes and whatnot.) Life is good at the top.